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ITC-IAF "smart flexibility" project

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Published: Tuesday, 31 October 2023 02:39

The fashion supply chain is on the cusp of transformation through the "smart flexibility" project, led by the International Trade Centre (ITC) and the International Apparel Federation (IAF). Leveraging AI and data tools, this initiative empowers fashion suppliers to generate value for brands and manufacturers. A crucial advantage of smart flexibility is its ability to defer production commitments closer to actual demand, leading to reduced inventory costs and enhanced cash flow.

Additionally, it mitigates the risk of overproduction, a significant contributor to industry waste. Smart flexibility is set to launch fully in 2024, endorsed by the Sustainable Terms of Trade Initiative (STTI) for its potential to foster equitable purchasing practices and sustainability objectives, thus promising a more efficient and profitable fashion supply chain. The ITC and IAF are currently previewing the research phase of their AI fashion supply chain project at the IAF World Fashion Convention in Philadelphia 23 to 24 October.